Growing global incidence of substance abuse, increasing cases of prescription diversion, and stringent laws mandating drug screening tests are key factors driving market growth

Market Size – USD 1.25 Billion in 2020, Market Growth – at a CAGR of 6.6%, Market Trends – Increasing adoption of urine drug testing at workplaces

The global specimen validity testing market size is expected to reach USD 2.10 Billion by 2028 at a CAGR of 6.6%, according to the latest report by Reports and Data. Rapidly rising incidence of drug abuse, increasing number of drug screening labs across the globe, and growing demand for presumptive tests are key factors expected to drive market revenue growth over the forecast period. Presence of stringent regulations that mandate drug screening tests and increasing adoption of drug screening at workplace are also expected to contribute to market growth going ahead. Rising use of illicit drugs and growing diversion of prescription drugs is also expected to drive market growth going ahead.

Specimen Validity Testing (SVT) is performed on urine specimen to detect adulteration, substitution, or dilution. Specimen validation testing plays a crucial role in the healthcare sector as it allows clinicians to assess patient’s behavior, medicine adherence, and honesty in communication. Clinicians generally order SVT to make informed therapeutic decisions about medical conditions of their patients, which also includes therapeutic overuse and illicit drug abuse. Specimen validity testing enables clinicians and toxicologists ensure the integrity of the test through accurate measurements of creatinine, pH, and specific gravity. This has boosted its adoption in law enforcement agencies and in criminal justice and this is expected to drive market growth going ahead.

Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/4098

Some Key Highlights From the Report:

  • Reagents, calibrators, and controls segment is expected to account for largest revenue share among the products segment. Growth can be attributed to increasing demand and repeated purchase of reagents due to rising number of specimens being tested in drug screening laboratories.
  • Laboratory testing segment is expected to register robust revenue CAGR over the forecast period owing to increasing drug testing in established healthcare facilities, rising cases of drug abuse, and implementation of standardized specimen validity testing protocols in laboratories.
  • Workplace segment is expected to register significant revenue growth over the forecast period owing to rising incidence of drug abuse at workplaces and increasing number of offices and organizations mandating workplace drug screening.
  • North America is expected to account for largest revenue share between 2021 and 2028, attributable to growing use of illicit drugs, increasing incidence of prescription diversion, and presence of stringent laws mandating drug screening in countries in the region.

The key companies profiled in the market are:

Thermo Fisher Scientific, Inc., Sciteck, American Bio Medica Corporation, Alere, Express Diagnostics, Premier Biotech, LabCorp., Quest Diagnostics, Alere Toxicology, ACM Global Laboratories, Clinical Reference Laboratory (CRL), SureHire, and CannAmm.

For the purpose of this report, Reports and Data has segmented the global specimen validity testing market based on product & services, type, end-use, and region:

Product & Services Outlook (Revenue, USD Billion; 2018-2028)

  • Products
  • Reagents, Calibrators, & Controls
  • Assay Kits
  • Disposable
  • Services

Type Outlook (Revenue, USD Billion; 2018-2028)

  • Laboratory Testing
  • Rapid/POC Testing

End-use Outlook (Revenue, USD Billion; 2018-2028)

  • Workplaces
  • Drug Screening Laboratories
  • Law Enforcement Agencies
  • Pain Management Centres
  • Drug Rehabilitation Centres
  • Others

Browse Complete Report “Specimen Validity Testing Market” @ https://www.reportsanddata.com/report-detail/specimen-validity-testing-market

The report further segments the market on the basis of key regions of the world and offers an assessment of the production and manufacturing capacity, import and export, production and consumption patterns, supply and demand ratio, and the presence of key players in each region. The Specimen Validity Testing market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

In-depth regional analysis covers:

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • U.K.
  • France
  • BENELUX
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • South Korea
  • Rest of APAC
  • Latin America
  • Brazil
  • Rest of LATAM
  • Middle East & Africa
  • Saudi Arabia
  • A.E.
  • Rest of MEA

The report includes primary and subjective research with a comprehensive study examined and validated by industry professionals and experts. The report further provides insights into the opportunities and threats that the industry may witness in the upcoming years, throughout the forecast period. The report also provides an insight into the growth in revenue along with CAGR throughout the forecast period. It also provides insights into lucrative opportunities to enable the businesses to capitalize on the emerging trends of the market.

Request customization of the report @ https://www.reportsanddata.com/request-customization-form/4098

Highlights of the TOC:

  1. Report Overview

1.1 Research Scope

1.2 Key Specimen Validity Testing market segments

1.3 Major players

1.4 Market analysis by product

1.5 Market analysis by application

1.6 Report timeline

  1. Global Growth Trends

2.1 Global Specimen Validity Testing market size

2.2 Latest Specimen Validity Testing market trends

2.3 Key growth trends

  1. Competitive Landscape

3.1 Global Specimen Validity Testing market key players

3.2 Global Specimen Validity Testing size by manufacturers

3.3 Products of major players

3.4 Entry barriers in the Specimen Validity Testing market

3.5 Mergers, acquisitions, joint ventures, and strategic alliances

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Thank you for reading our report. For additional information on customization of the report, connect with us and we will make sure you get a report tailored to meet your needs.

Specimen Validity Testing Market, Specimen Validity Testing Market size, Specimen Validity Testing Market share, Specimen Validity Testing Market trends, Specimen Validity Testing Market forecast, Specimen Validity Testing Market analysis, Specimen Validity Testing Market scope, Specimen Validity Testing Market manufacturer, Specimen Validity Testing Market vendors, Specimen Validity Testing Market players, Specimen Validity Testing Market top player, Specimen Validity Testing Market key player, Specimen Validity Testing Market prominent player, Specimen Validity Testing Market major manufacturers, Specimen Validity Testing Market report .